New York City Mayor's Donations to Alma Mater Top $1 Billion

New York City Mayor Michael Bloomberg has donated $1 billion to his alma mater.

New York City Mayor Michael Bloomberg recently announced that he will give $350 million to The Johns Hopkins University, bringing his total of lifetime donations to the school to $1 billion, a university press release states. Currently, school officials believe this makes Bloomberg the first person to donate $1 billion to a single U.S. college, CNN reports.

A majority of Bloomberg's latest gift will be put toward a larger effort to raise $1 billion to ease cross-disciplinary work across the institution. The remaining $100 million will be put toward scholarships for talented students who may not otherwise be able to afford college. Over the next decade, the university plans to give 2,600 bachelor's degree seekers these Bloomberg Scholarships.

The New York City mayor graduated from Johns Hopkins in 1965 with a degree in engineering. Due to the positive experience Bloomberg had at the school, he has continued to donate money to his alma mater, hoping the funds will help other students live out their dreams.

"Johns Hopkins University has been an important part of my life since I first set foot on campus more than five decades ago," Bloomberg said in the press release. "Each dollar I have given has been well-spent improving the institution and, just as importantly, making its education available to students who might otherwise not be able to afford it."